This data is for all of Barry County and only includes Residential Single Family Homes as reported in the SWMRIC System.
January 1st - March 31st 2012 there were 136 Homes Sold at an Average Sale Price of $111,164.
January 1st - March 31st 2013 there were 144 Homes Sold at an Average Sale Price of $108,562.
This data shows a slight decrease in Average Sold Price from 2012 to 2013. In looking further into the data, there were 3 homes in 2012 that sold over 1 Million. During that same time period in 2013, there was no home sold past the $550,000 mark. This has greatly influenced the Average Sold Price value.
There were also slightly more sales in 2013. Many of the sales in early 2013 were of homes that had been on the market for a significant amount of time in 2012. Ultimately those sellers made a decision to complete a price decrease to end up obtaining a ready, willing and able buyer.
Miller Real Estate is currently experiencing a decrease in listing activity and in some cases are having a real issue finding listings for our current buyers. Many buyers are having to expand their search based on location, price, or excluded details they may have wanted in a home. This activity has turned the market into a Sellers Market. While that activity is great for Sellers, they must still realize that the correct price will ultimately produce a sale.
There are still many homes that are holding on the market for long periods of time. We have seen this type of activity in the Lakefront, $200,000 + Market and the Under $100,000 Market (if not priced properly). Those buyers looking in the Lakefront and $200,000 + Market tend to use Conventional means of financing and put 20% or more down. Lots of times these buyers may be second home or "final" home buyers. These buyers are still concerned with the overall economy and are holding on tightly to those hard earned dollars. They are keeping those funds in easily accessible, safe and secure types of markets like Money Markets, CD's, Savings accounts.
We are seeing a real upswing in overall selling prices from the past 6 years. 2013 is certainly turning into the "swing" year for Barry County Real Estate. Miller Real Estate and its Agents are seeing a decrease in Foreclosure activity, a significant increase in Buyer activity, a slow down in Listing Activity, which the laws of Supply and Demand dictate is a Sellers Market.
Buyers are now in a market where Multiple Offers, Offering over Listing Price and not finding many listings to choose from is becoming the new normal.
If you are currently in the market for buying Real Estate, make sure you talk to a Miller Real Estate Agent today for the quickest, smartest, most knowledgeable experience in purchasing Real Estate.
In the market to Sell? Miller Real Estate and its Agents are ready to take on your listing. Our top of the line approach to finding the right way to list your property, dedicated persistence to see the deal through to closing and requirement that our agents are Full Time make it a wise choice to call us today!!
Tuesday, June 25, 2013
Wednesday, February 20, 2013
3 Month & Year End 2012 Market Update
It was a very busy and productive 2012 for Miller Real Estate and its Agents. We were happy with what we saw in 2012 and are seeing a valued increase in overall values of property. Miller Real Estate looks for 2013 to be a fantastic year.
This data is for all of Barry County and only includes Residential Single Family Homes. - Provided by www.swmric.com
From October 1st of 2011 - December 31st of 2011 there were 144 Homes sold at an Average Price of $114,147.
From October 1st of 2012 - December 31st of 2012 there were 159 Homes sold at an Average Price of $123,799.
* This above data shows a fantastic increase in years end from 2011 to 2012.
* Activity was certainly very strong and steady through 2012 year end. Miller Real Estate was delighted with this activity and still has many pending deals from 2012 going into the first quarter of 2013. Homeowners should be extremely satisfied as well, as this activity shows a solid increase in Property Value.
This data is for all of Barry County and only includes Residential Single Family Homes. - Provided by www.swmric.com
From January 1st of 2011 - December 31st of 2011 there were 601 Homes sold at an Average Price of $113,743.
From January 1st of 2012 - December 31st of 2012 there were 685 Homes sold at an Average Price of $123,033.
* This above data shows that overall average price increased 8% in 2012.
* There is still a lot of this activity swayed by the lack of Discounted Foreclosure sales. This lack of Foreclosure activity has required buyers to look for non-discounted "normal" homes listed by the Barry County citizen. Instead of finding the discounted $39,000 Foreclosure, that same buyer is now looking at the "normal" owner listed $65,000 listing. This type of activity increases the average sale price.
* Interest Rates are still at historic lows and values are still "discounted" based off years past. Buyers are still finding this market a great one to purchase a property in. What has changed is the current active listing activity. Miller Real Estate has multiple buyers in various price ranges. The problem we are encountering is the lack of good listing inventory. With this happening we are seeing the market return to a sellers market. Properties are selling quickly and with multiple offers if sellers take our advise, list at the true market value, have a desirable located home and make it "show room" ready. Markets in the West Michigan area have become similar and are returning to Sellers Markets. Read News Release.
* Rental Vacancies are at historic lows, Rental Rates are at historic highs, Property Values are on the steady increase and the Interest Rates are projected to rise. It is the perfect time to buy! While there may not be much to choose from we are seeing signs of an increase in listing activity. Coming into the spring "buying season" always increases listings offered to prospective buyers.
* 2013 looks to be a banner year for our Real Estate Market of Barry County. The facts of 2013 should show us true gains in actual Property Value. Watch for future Market Updates throughout 2013 to track this data. Miller Real Estate and it's Agents are ready to take 2013 head on and provide the excellence the County has come to find since 1940!
Looking to sell? Call a Miller Real Estate Agent today for a FREE, NO STRINGS ATTACHED Market Analysis.
Looking to buy? Call a Miller Real Estate Agent today for Quality, Efficient Service with Top of the Line Current Research Technologies for finding your perfect home.
This data is for all of Barry County and only includes Residential Single Family Homes. - Provided by www.swmric.com
From October 1st of 2011 - December 31st of 2011 there were 144 Homes sold at an Average Price of $114,147.
From October 1st of 2012 - December 31st of 2012 there were 159 Homes sold at an Average Price of $123,799.
* This above data shows a fantastic increase in years end from 2011 to 2012.
* Activity was certainly very strong and steady through 2012 year end. Miller Real Estate was delighted with this activity and still has many pending deals from 2012 going into the first quarter of 2013. Homeowners should be extremely satisfied as well, as this activity shows a solid increase in Property Value.
This data is for all of Barry County and only includes Residential Single Family Homes. - Provided by www.swmric.com
From January 1st of 2011 - December 31st of 2011 there were 601 Homes sold at an Average Price of $113,743.
From January 1st of 2012 - December 31st of 2012 there were 685 Homes sold at an Average Price of $123,033.
* This above data shows that overall average price increased 8% in 2012.
* There is still a lot of this activity swayed by the lack of Discounted Foreclosure sales. This lack of Foreclosure activity has required buyers to look for non-discounted "normal" homes listed by the Barry County citizen. Instead of finding the discounted $39,000 Foreclosure, that same buyer is now looking at the "normal" owner listed $65,000 listing. This type of activity increases the average sale price.
* Interest Rates are still at historic lows and values are still "discounted" based off years past. Buyers are still finding this market a great one to purchase a property in. What has changed is the current active listing activity. Miller Real Estate has multiple buyers in various price ranges. The problem we are encountering is the lack of good listing inventory. With this happening we are seeing the market return to a sellers market. Properties are selling quickly and with multiple offers if sellers take our advise, list at the true market value, have a desirable located home and make it "show room" ready. Markets in the West Michigan area have become similar and are returning to Sellers Markets. Read News Release.
* Rental Vacancies are at historic lows, Rental Rates are at historic highs, Property Values are on the steady increase and the Interest Rates are projected to rise. It is the perfect time to buy! While there may not be much to choose from we are seeing signs of an increase in listing activity. Coming into the spring "buying season" always increases listings offered to prospective buyers.
* 2013 looks to be a banner year for our Real Estate Market of Barry County. The facts of 2013 should show us true gains in actual Property Value. Watch for future Market Updates throughout 2013 to track this data. Miller Real Estate and it's Agents are ready to take 2013 head on and provide the excellence the County has come to find since 1940!
Looking to sell? Call a Miller Real Estate Agent today for a FREE, NO STRINGS ATTACHED Market Analysis.
Looking to buy? Call a Miller Real Estate Agent today for Quality, Efficient Service with Top of the Line Current Research Technologies for finding your perfect home.
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